Tag: Betting
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Bettors oppose 10% tax on bet wins
Bettors are expressing displeasure at the government’s plan to levy taxes on lottery and sports betting. As part of efforts to raise additional revenue for the country, government slapped taxes on income from lottery, betting and gambling. According to several local bettors, the government’s move is an attempt to prevent them from enjoying their winnings…
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Francis Timore Boi writes: All you need to know about tax on lottery and gambling
The inclusion of lottery or gambling income as taxable income is strongly influenced by a country’s choice of tax system. For those countries with worldwide tax system, gambling winnings are in principle, subject to tax whether they arise from windfall (occasional transactions) or from a professional gambler. When tax is imposed on gambling and lottery,…